Village Ventures's Bo Peabody just slammed Demand Media in a post on our site – only months before Demand will go out for an IPO.

It's very, very rare for an investor take a shot at another startup so close to such a big deal.

Peabody's main assertion is that while Demand "has indeed succeeded in growing traffic and driving content production costs ever lower," the company's "weak monetization of content has kept the company from consistent profits."

But tha's just the tip of the iceberg Peabody rams into the hull of Demand.